The Benefits of a Personal Loan and Why You Should Stick with It
What better way to meet your personal monetary requirements than with an easy-approval, no-hassle personal loan. A simple online form, approval in mere minutes and you’ll be on your way to your dream vacation. Here is an in-depth dissection of a personal loan.
Larger Loan Amount
One of the biggest advantages associated with personal loans is that you can get loans of a large amount without any hassle. If it is an expensive watch you want, or that trip that you have been planning, a personal loan can be the key.
When you apply online for a Personal Loan offered by Bajaj Finserv, you can get a loan up to INR 25 lakhs which is the highest ticket size offered in the country. Minimal processing fees and 90 seconds are all you need to get your loan approved.
Personal loans allow you the opportunity to invest in any time-bound investment and earn great returns. For instance, a major company just went public and has equity shares on sale for the general public. By quickly acquiring a personal loan, you can purchase the shares and avail of the profits in the long run. Financiers like Bajaj Finserv also offer Personal Loans with Flexi Loan feature that allows you to maintain control over your repayment strategy.
One of the most important personal loan benefits in India is that you can get instant approval for the loan. Here are some of the eligibility criteria that you must adhere to if you want a breezy loan:
- You should be a salaried individual of at least 25 years of age
- You should have at least 3 years of work experience
- You should be an Indian resident when the loan is being sanctioned
Once you meet the eligibility criteria for personal loan, you just need to upload a few documents and you’re good to go.
Tricky Interest Rates
Personal loan interest rates are the only thing that can make you stop and question your decision to apply for one. Owing to the absence of any form of mortgage, financiers charge a rate of interest that is higher than your regular loans. So, keep this in mind before you apply for one.
A personal loan can be of great help when you are in need of cash and simply don’t have the time to apply for a regular one. Non-banking financial companies like Bajaj Finserv offer Personal Loans with benefits like online account access and part prepayment facility. You can also apply online for a personal loan here.